Tata makes its EVs cheaper to buy upfront, under BaaS scheme

Tata Passenger Electric Mobility, the electric vehicle arm of Tata Motors Passenger Vehicles and India’s largest electric carmaker by volume, on Monday expanded its Battery-as-a-Service (BaaS) offering across its EV portfolio. The move gives customers an alternative financing option that lowers the upfront cost of buying an electric vehicle.

Initially introduced for the Tiago.ev and Punch.ev, the BaaS option is now available for the Nexon.ev, Curvv.ev, Sierra.ev and Harrier.ev. Customers across the TATA.ev range can either purchase the vehicle and battery outright or finance the battery separately.

Under the BaaS model, the battery cost is separated from the vehicle’s upfront price and financed through a separate loan account. The vehicle and battery can be financed independently, with flexible tenures. Battery financing or usage costs vary depending on battery capacity, the down payment and the loan tenure.

The model can significantly reduce the initial acquisition cost. Under BaaS, vehicle prices start at ₹4.69 lakh for the Tiago.ev, ₹6.59 lakh for the Punch.ev, ₹8.99 lakh for the Nexon.ev, ₹10.99 lakh for the Curvv.ev, ₹11.99 lakh for the Sierra.ev and ₹14.49 lakh for the Harrier.ev.

Battery financing or usage costs start at ₹2.6 per km for the Tiago.ev and Punch.ev, ₹4.4 per km for the Nexon.ev, ₹5 per km for the Curvv.ev, ₹5.5 per km for the Sierra.ev and ₹5.9 per km for the Harrier.ev.

TATA.ev said it had partnered with several financiers to give customers greater flexibility and choice under the BaaS model.

“Customers demand more choices than ever before—not just in the EVs they buy, but also in how they choose to finance them,” said Vivek Srivatsa, Chief Commercial Officer, TATA.ev.

He added that extending BaaS across the portfolio would allow customers to compare outright purchase with separate battery financing, while lowering the upfront cost of an EV.

The company emphasised that BaaS does not change the ownership experience, technology or product offering.

The company said the BaaS prices apply to the entry-level trims of each model and are based on daily usage of 60 km, except for the Tiago.ev, for which the assumed daily usage is 44 km.